“…More specifically, and in accordance with the principle of dual entitlement, the degree of consumer acceptance of a price change depends on the reasons justifying the change (Kahneman et al, 1986a, 1986b; Tarrahi et al, 2015). Thus, the same price increase may be considered unacceptable if it leads to an increase of firms’ profit, and acceptable if the profit remains unchanged (Kahneman et al, 1986b), for example, due to a cost increase (Tarrahi et al, 2015). Several norms regarding consumer acceptance of price changes exist, particularly those based on demand or costs (Kahneman et al, 1986a), directed towards vulnerable categories (Garbarino and Lee, 2003) or concerning promotion periods (Grewal and Marmorstein, 1994).…”